In the week ending 22 June 2007, the decrease of EUR 45 million in gold and gold receivables (asset item 1) reflected sales of gold by two Eurosystem central banks (consistent with the Central Bank Gold Agreement of 27 September 2004).
The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 0.3 billion to EUR 145.9 billion.
The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) decreased by EUR 1.8 billion to EUR 93.9 billion. Banknotes in circulation (liability item 1) fell by EUR 0.2 billion to EUR 627.9 billion. Liabilities to general government (liability item 5.1) increased by EUR 8.3 billion to EUR 49.9 billion.
The Eurosystem’s net lending to credit institutions (asset item 5 minus liability items 2.2, 2.3, 2.4, 2.5 and 4) increased by EUR 6.1 billion to EUR 438 billion. On Tuesday, 19 June 2007, a main refinancing operation of EUR 282 billion matured and a new one of EUR 288 billion was settled.
Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 0.1 billion (approximately the same as in the preceding week).
As a result of all transactions, the current account position of credit institutions with the Eurosystem (liability item 2.1) decreased by EUR 2.5 billion to EUR 189.5 billion.
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